Exploring the Dynamic Relationship: How Exchange Rates Drive Company Valuation through Foreign Portfolio Investments
DOI:
https://doi.org/10.59000/jm.v2i2.221Kata Kunci:
Exchange Rates, Foreign Portfolio InvestmentsAbstrak
This study aims to analyze the influence of economic growth and exchange rates on firm value with foreign portfolio investment as an intervening variable at PT Bank Central Asia Tbk. for the period 2011-2020. Quarterly secondary data from 2011-2020 were utilized. The data were then processed using EViews 11 Version analysis tool. The analysis employed descriptive statistics, linear tests, and classical assumption tests. Hypothesis testing was conducted using Partial Test (T-Test). The results of the partial test (T-Test) indicate that economic growth, exchange rates, and foreign portfolio investment insignificantly influence firm value. However, regarding the intervening variable, foreign portfolio investment does not mediate the influence of economic growth (GDP) on firm value, either directly or indirectly, and foreign portfolio investment also does not directly mediate the influence of exchange rates on firm value. Nonetheless, exchange rates directly affect foreign portfolio investment, thus reinforcing the relationship between exchange rates and firm value. Therefore, the fifth hypothesis is accepted.
Unduhan
Referensi
Analisis Nilai Perusahaan Dengan Model Rasio Tobin’s Q. Vol. 4 (1): 50.
Azhar, R., Samsudin, A., & Jhoansyah, D. (2018). Pengaruh Profitabilitas Terhadap Nilai Perusahaan Melalui Kebijakan Deviden Sebagai Variabel Intervening (Studi Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Periode 2012-2016). Jurnal Administrasi Bisnis. 7 (4), 1-
Bambang, Sudiyatno & Elen Puspitasari. (2011). Tobin’s Q Dan Altman Z-Score Sebagai Indikator Pengukuran Kinerja Perusahaan. Jurnal Akuntansi. Vol 2 (1) : 15.
Fransiskus, Randa., & S, Ariyanto, Solon. (2012). Pengaruh Modal Intelectual Terhadap Nilai Perusahaan. Jurnal Sistem Informasi Manajemen Dan Akuntansi. Vol 10 (1) : 26
Investasi Asing Di Indonesia. Jurnal Ilmiah Mahasiswa Feb. 9 (1) : 6. Mnc Trade Aplication
Irham Fahmi. (2015). Pengantar Manajemen Keuangan Teori Dan Soal Jawab. Edisi Keempat. Bandung: Alfabeta.
Jauza, Dzahabiyya., Dicky, Jhoansyah., & R Deni Muhammad Danial. (2020).
Jeter. Debra C.. Chaney. Paul K. (2012). Advanced Accounting (5th Ed.). New Jersey: Wiley.
Messayu Eliza. (2013). Analisis Pengaruh Variabel Makroekonomi Terhadap
Napaporn Likitwongkajon. Chaiporn Vithessonthi. Do Foreign Investment Increase Firm Value Dan Firm Performance. Research In International Business And Finance. 51 (2020) 101099
Pdb Pengeluaran - Portal Satudata Perdagangan (Kemendag.Go.Id)
Rachman, T., & Rezeki, F. (2023). The Influence Of Transformatıonal Leadershıp Style And Job Satısfactıon On Work Engagement Through Perceıved Organızatıonal Support At Cv Rafana Kıds Store. Asian Journal Of Management, Entrepreneurship And Social Science, 3(04), 1292-1310.
Rezeki, F. (2022). Pengaruh Work Stres, Work Communication Dan Physical Work Environment Terhadap Spirit At Work Empolyee Pada Pt. Jayasutra Maju Bersama Cikarang. Jurnal Ilmiah Multidisiplin, 1(1).
Rezeki, F. (2023). Work Engagement (Teori, Faktor Dan Implementasinya). Pt Kimhsafi Alung Cipta.
Rezeki, F., & Diwyarthi, N. D. M. S. (2022). The Influence Of Non Physical Work Environment, Workload And Job Satisfaction On Employee Turnover Intention Pt Utama Finance Cikarang. Jurnal Ekonomi Dan Bisnis, 11(2), 566-574.
Rezeki, F., Baldah, N., Fachrurazi, F., Nurastuti, P., & Rds, Y. R. (2023). The Influence Of Career Development And Workload On Turnover Intention With Job Satisfaction As A Mediator. Asian Journal Of Management, Entrepreneurship And Social Science, 3(04), 1546-1556.
Rodiyah, W., & Sulasmiyati, S. (2018). Pengaruh Return On Investment (Roi), Return On Equity (Roe), Earning Per Share (Eps) Dan Economic Value Added (Eva) Terhadap Harga Saham (Studi Kasus Pada Perusahaan Sub Sektor Property Dan Real Estate Yang Terdaftar Di Bursa Efek Indonesia (Bei) Per. Jurnal Administrasi Bisnis (Jab), 56 (1).
Sadono Sukirno. (2012). Makroekonomi Teori Pengantar. Jakarta: Rajawali Pers.
Sugiyono. (2013). Metode Penelitian Kuantitatif Kualitatif Dan R&D. Bandung: Alfabeta.
www.idx.co.id
www.bi.go.id
www.idnfinancials.com
www.yahoofinance.com
Unduhan
Diterbitkan
Versi
- 2024-08-16 (2)
- 2024-03-05 (1)
